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The Boston Globe

Business

Judge rules that utility profits too high

A federal administrative judge has ruled that New England utilities should receive fewer guaranteed profits for building transmission lines, a decision that could save Massachusetts electric customers more than $50 million a year.

The ruling, by Administrative Law Judge Michael J. Cianci Jr., comes nearly two years after Attorney General Martha Coakley challenged the base return that utilities receive on the money they spend on transmission investments. She argued that those profits were excessive, given the low interest rates, low costs of financing, and general economic conditions.

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